Triplex with Basement
For Sale
$620,000
705 Collings Ave, Oaklyn, NJ
Three fully leased apartments with shared and private laundry facilities, plus dedicated basement access for the first-floor residence.
Property Size3,314 SF
Price / SF$187.09
Days on Market39
Property Features for 705 Collings Ave
General Information
Standard status
Active
Size
3,314 SF
Property subtype
Residential Income
Occupancy
100%
Site & Location
Highway Access
Yes
Public Transit
Yes
Units
Unit Mix
2 x 2BR/1BA, 1 x 1BR/1BA
Multifamily Units
3
Additional Details
Asking Price
$620,000
Taxes and HOA fees
Annual Taxes
$10,648
Listing Agency:
HomeSmart First Advantage Realty
(973) 384-7309
Listed By:
Olawemimo Odebiyi
(973) 384-7309
Source:
Exprealty
Added: Jul 24
Changed: Aug 29
Last Checked: Aug 29 at 8:47PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of HomeSmart First Advantage Realty
Investment Insights
Based on property information with market context.
This three-unit multifamily property contains two two-bedroom, one-bath apartments and one one-bedroom, one-bath apartment within 3,314 square feet. The first-floor residence has exclusive use of a full basement and its own washer and dryer. Residents in the upper units share a separate laundry setup. Unit carpeting has been replaced recently, and all three apartments are currently rented.
The property is positioned near downtown Oaklyn, Collingswood, Knight Park, shopping, restaurants, public transportation, major highways, and Philadelphia. Its separate apartments and varied bedroom layouts provide a clearly defined configuration for continued rental use or an owner-occupied arrangement, as supported by the existing unit mix.
The property is positioned near downtown Oaklyn, Collingswood, Knight Park, shopping, restaurants, public transportation, major highways, and Philadelphia. Its separate apartments and varied bedroom layouts provide a clearly defined configuration for continued rental use or an owner-occupied arrangement, as supported by the existing unit mix.
Key Highlights
- Three‑unit property totaling 3,314 square feet
- Unit mix includes two 2‑bedroom, 1‑bath apartments and one 1‑bedroom, 1‑bath apartment
- All three apartments are fully rented
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$37,690
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
6.08%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$753,800
$753.8K
Cap Rate 7%
$538,429
$538.4K
Cap Rate 9%
$418,778
$418.8K
Market Conditions
NOI Build-Up for 3,314 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$56.9K $17.16/SF
− Vacancy
−$3.0K −$0.91/SF
EGI
$53.8K $16.25/SF
− OpEx
−$16.2K −$4.87/SF
NOI
$37.7K $11.37/SF
Area
Camden County, NJ
Vacancy
5.32%
Lease Rate
$17.16 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$753,800
Cap Rate 7%
$538,429
Cap Rate 9%
$418,778
Alternative Uses
Best Use
Multifamily LT 5
$538.4K
$471.1K – $628.2K
NOI $37,690 @ 7.0% cap · market cap 6.08%
Second Best
Apartment 5plus
$480.8K
$420.7K – $560.9K
NOI $33,655 @ 7.0% cap · market cap 5.43%
Theoretical Best
Office A
$840.3K
$735.3K – $980.3K
NOI $58,820 @ 7.0% cap · market cap 9.49%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
3
Residential units
100%
Occupancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
613
Businesses Nearby
Explore this area
Business Placement
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Triplex - Three fully leased apartments with shared and private laundry facilities, plus dedicated basement access for the first-floor residence.
Where is this triplex located?
The property is located at 705 Collings Ave Oaklyn, NJ.
What is the asking price?
The asking price for this property is $620,000.
What are key features of this property?
This property features: Three‑unit property totaling 3,314 square feet; Unit mix includes two 2‑bedroom, 1‑bath apartments and one 1‑bedroom, 1‑bath apartment; All three apartments are fully rented
